Prudential to substitute subsidiary as issuer for seven notes

By Mary-Katherine Stinson

Lexington, Ky., Feb. 28 – Prudential plc plans to substitute its indirect wholly owned subsidiary Prudential Funding (Asia) plc as the issuer for seven series of notes effective March 2, according to a notice.

The substitution would affect the following series of notes:

• £435 million 6.125% subordinated notes due Dec. 19, 2031 (ISIN: XS0140198044) listed on the London Stock Exchange;

• €20 million index linked subordinated notes due 2023 (ISIN: XS0171435497) listed on the London Stock Exchange;

• $750 million 4.875% undated subordinated notes (ISIN: XS1700429480) listed on the London Stock Exchange;

• $1 billion 2.95% subordinated notes due Nov. 3, 2033 (ISIN: XS2403426427) listed on the London Stock Exchange;

• £250 million 5.875% notes due 2029 (ISIN: XS0096874671) listed on the London Stock Exchange;

• $1 billion 3.125% notes due 2030 (ISIN: US74435KAA34) listed on the New York Stock Exchange; and

• $350 million 3.625% notes due 2032 (ISIN: US74435KAB17) listed on the New York Stock Exchange.

From and including the substitution date, each series will be irrevocably guaranteed by Prudential plc.

Notices will be sent to all noteholders upon effectiveness of the substitution.

London-based Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa.

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